IBM today announced the launch of its blockchain-based food supply chain network, IBM Food Trust. It offers greater traceability, transparency and efficiency. The system is made accessible after 18 months of testing. In the testing, millions of individual food products have been tracked by retailers and suppliers.
IBM Food Trust is running on the IBM Cloud and provides enterprise-class security, reliability and adaptability. The establishment of the innovation depends on Hyperledger Fabric, an open source blockchain structure facilitated by the Linux Foundation. Furthermore, the system incorporates compatibility with the GS1 standard utilized by a great part of the food industry to guarantee interoperability for traceability systems.
Global retailer Carrefour with more than 12,000 stores in 33 countries is also joining IBM Food Trust to fortify their food excellence activity. Carrefour will initially use the solution to highlight the trust of their customers in Carrefour-branded products. All the Carrefour brands globally will adopt the solution by 2022.
IBM guarantees that the rights and data of all members will be overseen and secured. IBM Food Trust individuals spearheaded an exhaustive governance model. The model ensures each member maintains a same set of guidelines.
Many retailers and suppliers are trusting on blockchain technology to trace their food products in order to provide fresh food. As reported by Economic Times, more than 100 farms that supply spinach and lettuce to Walmart are required to input detailed information about their items on blockchain database. This database is also developed by IBM for Walmart and several other retailers to trace food products,
As published in IBM Newsroom, utilizing blockchain for the trusted transaction, food can be immediately traced back to its source. The process of tracing takes just a few minutes rather than days or weeks. Unlike the traditional databases, the features of blockchain and the capacity to permission data, empowers network individuals to gain another level of trust in data.
IBM Food Trust network and accompanying solutions also extended its focus on enhancing blockchain food supply chain. This incorporates increasing a bit of knowledge on item freshness, reducing waste and making the supply chain more collaborative and transparent.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]